Taiwan to attract R&D investment by foreign memory chip makers: Bloomberg

Seven-year plan to cost NT$10 billion

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Taiwan is about to launch a plan to attract memory chip R&D investment 

Taiwan is about to launch a plan to attract memory chip R&D investment  (AP photo)

TAIPEI (Taiwan News) — The government plans to spend NT$10 billion (US$335 million) to persuade foreign memory chip makers to open research and development facilities in Taiwan, the Bloomberg news agency reported Wednesday (June 3).

The aim of the seven-year project would be to attract at least one such company per year, while local semiconductor makers who convinced foreign suppliers to open R&D centers on the island would also be rewarded.

Criteria for the funding of up to half the companies' R&D costs would include the number of jobs created in Taiwan and the amount of funds invested, according to the report.

The administration of President Tsai Ing-wen (蔡英文) has promoted foreign investment in Taiwan as well as tried to lure Taiwanese investors back from China to help them avoid tariffs levied by the United States in its trade war with the communist country.

The seven-year plan was likely to be unveiled at Thursday's (June 4) regular weekly Cabinet meeting, Bloomberg reported.